What is the procedure to take flat on lease ?

I want to buy a flat on lease ad I don't know much about lease I am not taking it on rent not purchasing it but taking on a lease for x no of yrs what is the process ?

Answers (1)

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You can take a flat on lease by singing a lease agreement which is a binding contract between the owner of the flat and the person looking to use or occupy the land.

The agreement must be compliant with the Transfer of Property Act, 1882. The rental agreement papers would be executed by the person who requires the property. 

The details of the agreement itself would vary largely according to the property being rented and the reason for renting- commercial or residential.

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